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Paragraph 3A F1

Northern Ireland

(1)

In estimating the net annual value F2or capital value of a relevant hereditament during a deemed completion period, the actual state of the hereditament shall be taken to be a state of reasonable repair excluding any repairs which a reasonable landlord would consider uneconomic.

(2)

In this paragraph—

  • “building” has the same meaning as in Article 25B;

  • “deemed completion period” means the period—

    1. (a)

      beginning with the day on which the building is deemed to be completed by virtue of paragraph (2) of that Article; and

    2. (b)

      ending on the day on which the building becomes capable of rateable occupation;

  • “relevant hereditament” means a hereditament which comprises a building which is deemed to be completed by virtue of that paragraph.

Annotations

Textual amendments

F1

2004 NI 4

F2

Words in Sch. 12 Pt. I para. 3A(1) inserted (1.10.2011) by Rates (Amendment) Act (Northern Ireland) 2009 (c. 8), ss. 17, 19(1), Sch. 1 para. 10; S.R. 2011/16, art. 2(2), Sch. 2

Notes on the whole Order

Textual amendments

F1

functions transf. SR 1999/481